Activist investor Eric Jackson on Yahoo, Viacom and his strategy

Eric Jackson, an activist investor with SpringOwl Asset Management who became widely known for his public campaigns calling for management shakeups at Yahoo and Viacom, shared his latest views on both names, along with his investment outlook.

Jackson, who uses an unorthodox method to get his voice out through 99-page reports and social media, revealed the following during this special strategy session with CNBC's Mike Santoli:

The role of activist investors and whether the average Joe should be piggybacking off their picks.